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Author Question: When supply and demand for a product decrease simultaneously, we A) can predict that both ... (Read 67 times)

Charlie

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on: Jun 29, 2018
When supply and demand for a product decrease simultaneously, we
 
  A) can predict that both equilibrium price and quantity will increase.
  B) can predict that both equilibrium price and quantity will decrease.
  C) cannot predict equilibrium price, but know that equilibrium quantity will decrease.
  D) cannot predict the change in either the equilibrium quantity or equilibrium price.

Question 2

An expected future increase in the price of gasoline may
 
  A) increase the demand for gasoline now.
  B) decrease the demand for gasoline now.
  C) increase the supply of gasoline now.
  D) make gasoline an inferior good.


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lkoler

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


Charlie

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Dnite

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Reply 3 on: Yesterday
Excellent

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